Highland Capital Management LLC Purchases 29,675 Shares of The Coca-Cola Company (NYSE:KO)

Highland Capital Management LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 56.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,995 shares of the company’s stock after buying an additional 29,675 shares during the quarter. Highland Capital Management LLC’s holdings in Coca-Cola were worth $5,105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the third quarter valued at about $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the third quarter valued at about $43,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the fourth quarter valued at about $37,000. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. UBS Group reduced their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $62.86 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $270.77 billion, a PE ratio of 25.97, a P/E/G ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business’s fifty day moving average price is $62.65 and its 200 day moving average price is $66.41.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.